National Innovation and Startup Policy (NISP)

At the Regent Education and Research Foundation Group of Institutions, we envision an academic ecosystem where innovation and entrepreneurship are not just encouraged but are fundamental pillars of our identity. Our vision is to cultivate a vibrant environment that inspires every member of our community to explore the frontiers of technology and creativity, empowering them to transform ideas into impactful solutions.

We are committed to integrating cutting-edge technological education with hands-on, practical experiences, thereby preparing our students to not only thrive in a dynamic and challenging professional world but also to become leaders who drive societal progress and global change. By fostering a culture of continuous learning, creativity, and problem-solving, we aim to develop future-ready professionals who are equipped to navigate the complexities of a rapidly evolving technological landscape.

Our policy is designed to support and nurture the entrepreneurial spirit, enabling students, faculty, and alumni to convert their innovative ideas into successful enterprises. Through a blend of strong fundamentals, interdisciplinary collaboration, and an unwavering commitment to ethical practices and social responsibility, we strive to create a breeding ground for innovation that contributes to the betterment of society and the environment, aligning with our ethos of holistic development and inclusive growth.

In doing so, we pledge to continuously adapt and grow, ensuring that the Regent Education and Research Foundation Group of Institutions remains at the forefront of technological advancement, educational excellence, and entrepreneurial success.

Our mission at the Regent Education and Research Foundation Group of Institutions is to create an empowering platform for innovation and entrepreneurship. We are dedicated to nurturing the talents and aspirations of our students, faculty, and alumni by providing them with the resources, guidance, and opportunities necessary to transform their innovative ideas into meaningful solutions.

Key components of our mission include:

1. Fostering a Collaborative Environment:

Cultivate a collaborative academic culture that encourages interdisciplinary learning and research, blending technological expertise with practical applications.

2. Integrating Technology and Education:

Seamlessly integrate advanced technology into our curriculum, ensuring that our students are well-versed in the latest technological advancements and are prepared to meet the challenges of a globalized world.

3. Encouraging Entrepreneurial Mindset:

Instill an entrepreneurial mindset in our community, encouraging risk-taking, problem-solving, and creative thinking to develop impactful and sustainable solutions.

4. Providing Incubation and Support:

Establish state-of-the-art incubation centers and provide comprehensive support for startup ventures, including mentorship, funding, and networking opportunities.

5. Promoting Ethical and Social Responsibility:

Ensure that our entrepreneurial activities are grounded in ethical practices and contribute positively to societal and environmental welfare.

6. Enhancing Industry Connections:

Strengthen ties with industry leaders, alumni, and external stakeholders to provide real-world exposure and collaborative opportunities for our students and faculty.

7. Continuous Improvement and Adaptation:

Remain committed to continuous improvement, adapting our strategies and offerings to stay ahead of technological and educational trends.

Through this mission, we aim to shape future leaders who are not only technologically adept but also socially responsible, capable of making a significant impact in their professional fields and contributing to the betterment of society.

1. Nurture Innovation and Creativity:

Cultivate a culture of innovation and creativity across all disciplines. Encourage students and faculty to engage in research, idea generation, and problem-solving that lead to groundbreaking innovations.

2. Develop Entrepreneurial Skills:

Provide comprehensive educational programs and workshops to develop entrepreneurial skills among students and faculty. This includes training in business planning, market analysis, financial management, and leadership.

3. Establish Robust Incubation Centers:

Set up and maintain state-of-the-art incubation centers that offer necessary resources, mentorship, and support for startups, from ideation to commercialization.

4. Foster Industry-Academia Collaboration:

Strengthen partnerships with industry leaders, alumni, and other external stakeholders to facilitate knowledge exchange, internship opportunities, and real-world project collaborations.

5. Promote Interdisciplinary Learning:

Encourage interdisciplinary projects and collaborations that combine different fields of study, fostering a holistic approach to innovation and problem-solving.

6. Support Intellectual Property and Technology Transfer:

Assist in the protection of intellectual property and facilitate the transfer of technology from academic research to market-ready products and services.

7. Enhance Global Competitiveness:

Prepare students and faculty to be globally competitive by providing international exposure through exchange programs, global competitions, and collaboration with foreign universities and institutions.

8. Emphasize Social and Ethical Responsibility:

Ensure that all innovations and entrepreneurial ventures are guided by a strong sense of social and ethical responsibility, aiming to contribute positively to society and the environment.

9. Measure and Evaluate Impact:

Regularly assess the impact of the startup and innovation initiatives through well-defined metrics, adapting strategies to maximize effectiveness and reach.

10. Create an Inclusive Ecosystem:

Build an inclusive entrepreneurial ecosystem that supports diverse ideas and backgrounds, ensuring equal opportunities for all members of the institution.

1. Strengthen 'Startup Shala' Incubation Center:

Enhance the existing 'Startup Shala' incubation center by introducing new resources and programs, such as advanced technology tools, within the next 6 months.

2. Expand IIC Activities and Outreach:

Increase the range of activities conducted by the IIC, including more frequent innovation workshops and mentorship programs, within the next academic semester.

3. Develop KPIs for Innovation and Entrepreneurship:

Establish clear Key Performance Indicators (KPIs) for measuring the effectiveness of 'Startup Shala' and IIC initiatives, including metrics like the number of startups incubated, patents filed, and successful ventures, to be implemented within the next 3 months.

4. Industry Professional Mentorship Enhancement:

Strengthen the mentorship program by partnering with additional industry professionals and entrepreneurs to provide diverse perspectives and expertise, to be achieved within the next 6 months.

5. Cross-cultural and Technological Exposure:

Organize international visits and exchange programs for students and faculty to experience new cultures and technologies, aiming for at least one such program in the next year.

6. Facilitate Prototyping and Idea Validation:

Provide more opportunities and resources for prototyping and validating new ideas within 'Startup Shala', to be enhanced within the next 9 months.

7. Boost IIC Visibility and Student Engagement:

Increase the visibility of IIC and its activities through marketing campaigns and by integrating its initiatives into the broader curriculum, to be initiated in the next academic semester.

8. Innovation Competitions and Challenges:

Organize and host additional innovation competitions and challenges, with an aim to conduct at least two major events in the next year.

9. Alumni Engagement in Entrepreneurship Programs:

Actively involve alumni in mentoring, workshops, and networking events, aiming to establish at least three new alumni-led initiatives within the next 6 months.

10. Feedback and Continuous Improvement:

Implement a structured feedback mechanism for all innovation and entrepreneurship programs, with quarterly reviews to adapt and improve the offerings.

1. Institutionalize Entrepreneurship Education:

Integrate entrepreneurship and innovation as core components of all academic programs, ensuring that every student receives foundational training in these areas within the next five years.

2. Establish a Research and Innovation Hub:

Develop a premier research and innovation hub that fosters cutting-edge research and technology development, aiming for recognition as a leading institution in this field within the next decade.

3. Expand Global Reach and Collaboration:

Establish robust partnerships with international universities, research institutions, and industries to facilitate global knowledge exchange, aiming for at least 10 strategic international partnerships in the next five years.

4. Enhance 'Startup Shala' as a Regional Leader:

Develop 'Startup Shala' into a leading regional incubation center known for its high-impact startups and innovation, with a goal to incubate over 100 successful startups in the next ten years.

5. Cultivate a Thriving Alumni Entrepreneur Network:

Build a strong network of alumni entrepreneurs who actively contribute to the institute’s innovation ecosystem, aiming to engage at least 30% of the alumni in mentoring, funding, and collaboration activities in the next decade.

6. Sustainable Entrepreneurial Ecosystem:

Create a self-sustaining entrepreneurial ecosystem on campus, with complete facilities for ideation, prototyping, and commercialization, to be fully operational within the next seven years.

7. Achieve National and International Rankings:

Attain national and international recognition for excellence in entrepreneurship and innovation education, aiming to be ranked among the top institutions in these fields within the next ten years.

8. Regularly Update Curriculum and Pedagogy:

Continuously update and refine the curriculum and teaching methodologies to keep pace with global trends and technological advancements, with a comprehensive curriculum review every five years.

9. Foster Social Entrepreneurship and Community Impact:

Promote social entrepreneurship and community impact projects, with the goal of launching at least 50 socially impactful initiatives or startups in the next decade.

10. Develop a Robust Innovation and Entrepreneurship Ecosystem:

Build an all-encompassing ecosystem that supports innovation and entrepreneurship at every level, from student clubs to research labs and industry partnerships, to be recognized as a model for other institutions in the next decade.

1. Innovation and Entrepreneurship Curriculum:

Develop and implement a comprehensive curriculum that integrates innovation and entrepreneurship into all academic programs. Deliverable: Complete curriculum integration across all departments within two years.

2. Startup Incubation Programs:

Provide structured incubation programs, including mentorship, funding, and resource support for student and faculty startups. Deliverable: Launch at least two incubation cycles per year at 'Startup Shala'.

3. Faculty Development Initiatives:

Conduct regular faculty development programs focused on innovation and entrepreneurship pedagogy. Deliverable: Organize a minimum of four faculty development workshops annually.

4. Entrepreneurship Awareness and Engagement Campaigns:

Initiate campus-wide campaigns to raise awareness and engage the community in entrepreneurial activities. Deliverable: Conduct at least three major campaigns each academic year.

5. Alumni Entrepreneur Network:

Establish and nurture an active network of alumni entrepreneurs. Deliverable: Create an alumni entrepreneur database and organize at least two networking events per year.

6. Industry and International Partnerships:

Forge new collaborations with industry and international academic partners for knowledge exchange and joint ventures. Deliverable: Establish at least five new partnerships within three years.

7. Innovation Competitions and Hackathons:

Organize regular innovation competitions and hackathons to stimulate creativity and problem-solving. Deliverable: Host at least two major events each academic year.

8. Technology Transfer and Commercialization Support:

Facilitate the transfer of technology and ideas from academia to the market. Deliverable: Assist in at least five technology transfer agreements or startup launches per year.

9. Entrepreneurial Success Tracking:

Monitor and track the success of entrepreneurial ventures and innovations emerging from the institution. Deliverable: Publish an annual report highlighting key achievements and case studies.

10. Sustainable Practices and Social Entrepreneurship:

Promote sustainable practices and social entrepreneurship through targeted programs and initiatives. Deliverable: Initiate at least three sustainability-focused projects or social startups annually.

11. Mentoring and Advisory Services:

Provide mentoring and advisory services to student and faculty entrepreneurs. Deliverable: Establish a dedicated mentoring team and conduct regular advisory sessions.

12. Research and Development Focus:

Enhance research and development activities related to innovation and technology. Deliverable: Achieve a set target of research publications and patents filed each year.

1. Digital Marketing and Social Media Campaigns:

Utilize digital platforms and social media to regularly disseminate information about entrepreneurship programs, success stories, and events. Strategy includes creating engaging content, videos, and infographics highlighting the innovation ecosystem.

2. Campus-wide Innovation Workshops and Seminars:

Regularly organize workshops and seminars led by successful entrepreneurs, industry experts, and alumni to inspire and educate the campus community. These events should also be open to external participants to enhance networking opportunities.

3. Startup and Innovation Competitions:

Host annual startup and innovation competitions, encouraging students and faculty to pitch their ideas and prototypes. Winners could receive funding, incubation support, or mentorship opportunities.

4. Collaboration with Industry and Alumni:

Establish strong ties with industry partners and alumni for guest lectures, mentorship programs, and collaborative projects. This helps in bringing real-world insights to the campus and offers networking opportunities for students and faculty.

5. Interactive Web Portal for Innovation and Entrepreneurship:

Develop a dedicated web portal that serves as a one-stop resource for all information related to the institute’s innovation and entrepreneurship activities, including success stories, upcoming events, and resources available.

6. Internal Newsletter and Bulletins:

Regularly publish newsletters and bulletins that highlight recent achievements, ongoing projects, and upcoming opportunities in the innovation and entrepreneurship space.

7. Student Ambassador Program:

Create a student ambassador program where selected students promote entrepreneurship and innovation activities among their peers, encouraging greater participation and engagement.

8. Partnerships with Local Media:

Form partnerships with local media outlets to feature stories of successful startups, innovations, and significant events, enhancing the institute's visibility in the community.

9. Incentivizing Participation:

Introduce incentives for students and faculty who actively participate in or contribute to the innovation ecosystem, such as recognition awards, course credits, or research grants.

10. Open House and Community Engagement Events:

Organize open house events and community engagement activities that invite the public to see the innovations developed at the institute, fostering community involvement and support.

11. Alumni Engagement Events:

Conduct special events for alumni to reconnect with the institute and contribute to its innovation and entrepreneurship initiatives, either through mentorship, investment, or collaboration.

12. Showcasing Success Stories:

Regularly showcase success stories of startups and innovations that have emerged from the institute through various channels, including the institute’s website, social media, and press releases.

1. Cross-Disciplinary Innovation:

Foster a culture of innovation that transcends traditional academic boundaries, encouraging cross-disciplinary collaborations among different departments and faculties. Emphasize the development of solutions that address real-world problems through a holistic approach.

2. Technology Commercialization and Transfer:

Focus on bridging the gap between research and the market. Prioritize the commercialization of technologies developed within the institution and facilitate effective technology transfer processes.

3. Entrepreneurial Mindset and Leadership:

Cultivate an entrepreneurial mindset across the campus community, emphasizing the development of leadership, resilience, and strategic thinking. This includes integrating entrepreneurial thinking into curricula and extracurricular activities.

4. Startup Ecosystem Development:

Strengthen and expand the 'Startup Shala' incubation center and related ecosystems to support a wide range of startups, from ideation to scaling up. This involves providing resources, mentorship, and networking opportunities.

5. Innovation in Teaching and Learning:

Innovate in pedagogical approaches to teaching and learning, incorporating experiential learning, problem-based learning, and the use of new technologies to engage students in a more interactive and practical educational experience.

6. Societal Impact and Sustainable Solutions:

Drive initiatives that focus on creating societal impact and sustainable solutions, addressing global challenges such as environmental sustainability, healthcare, and social welfare.

7. Global Collaboration and Networking:

Expand international collaborations for student and faculty exchange, joint research, and global entrepreneurship opportunities. This will enhance the institution's global footprint and provide exposure to international best practices and networks.

8. Industry Engagement and Partnerships:

Forge strong linkages with industry to ensure that education and research are aligned with current and future industry needs. This includes facilitating internships, industry-sponsored projects, and collaborative research.

9. Access to Funding and Investment:

Provide access to various funding sources for startups and innovative projects, including grants, angel investors, venture capital, and government schemes.

10. IPR and Legal Support:

Offer comprehensive support in intellectual property rights (IPR) management, legal counseling, and compliance, especially for startups and research projects.

11. Digital Transformation and Emerging Technologies:

Embrace digital transformation and emerging technologies, such as AI, IoT, and blockchain, integrating them into research, curriculum, and institutional operations.

12. Alumni Engagement and Entrepreneur Network:

Actively involve the institution's alumni in mentoring, funding, and supporting new ventures, leveraging their experience and networks for the benefit of current students and faculty.

• Incubation Support
1. Policy Alignment with NISP 2019:

Our incubation support process aligns with the guidelines of the National Innovation and Startup Policy 2019, emphasizing the nurturing and development of student and faculty startups within an academic environment.

2. Funding Allocation:

Consistent with NISP 2019 recommendations, we allocate 1% of the total annual budget of the institute to fund and support innovation and startup-related activities. This dedicated ‘Innovation Fund’ will be utilized for incubation support, including seed funding, infrastructure development, and operational costs.

3. Startup Formation and Support:

Offer comprehensive support for the formation of startups by students and faculty. This includes assistance in business model development, market analysis, and business plan creation.

Provide access to legal and financial advisory services to aid in the structuring and registration of startups.

4. Resource Availability:

Ensure that the necessary resources, such as workspace, technology tools, and laboratory facilities, are available to incubated startups on a 24/7 basis.

5. Mentorship and Guidance:

Facilitate mentorship programs connecting incubated startups with experienced entrepreneurs, industry professionals, and alumni. This mentorship will cover various aspects of business development, technical expertise, and market understanding.

6. Networking and Market Access:

Provide opportunities for startups to network with potential investors, customers, and partners. Organize pitch events, demo days, and industry meetups to enhance market visibility and access.

7. Training and Workshops:

Conduct regular training sessions and workshops focusing on entrepreneurial skills, latest industry trends, and technology advancements.

8. IPR and Licensing Support:

Offer specialized support for intellectual property registration, management, and licensing. Guidance will be provided on how to navigate the complexities of IPR and leverage it for business advantage.

9. Performance Tracking and Support Adjustment:

Implement a system for tracking the performance of incubated startups, using key metrics to assess progress and adjust support mechanisms as needed.

10. Feedback and Continuous Improvement:

Establish a feedback mechanism to gather insights from incubated startups on the effectiveness of support provided, using this input for continuous improvement of the incubation program.

• Student and Faculty Startups
1. Eligibility and Scope:

This policy applies to all students and faculty members of the institute who are interested in developing and launching startup ventures, either individually or in teams.

2. Idea Submission and Evaluation:

Interested students and faculty can submit their startup ideas through a formalized submission process. These ideas will be evaluated based on innovation, feasibility, market potential, and social impact.

3. Support for Idea Development:

Selected ideas will receive support in the form of mentorship, access to workshops, and guidance in business model development. This also includes assistance in market research and validation of the startup concept.

4. Incubation and Seed Funding:

Eligible startup ideas will have the opportunity to be incubated within the institute’s 'Startup Shala' or other designated incubation spaces. Seed funding, subject to availability and evaluation criteria, may be provided to promising startups.

5. Intellectual Property (IP) Rights:

The policy will ensure a clear understanding of IP rights between the institute and the startup founders. The institute encourages and supports the protection of IP developed by student and faculty startups.

6. Flexibility in Academic Commitments:

Student entrepreneurs will be given flexibility in their academic commitments to focus on their startups, including provisions for taking a gap year or semester, if necessary.

7. Faculty Involvement:

Faculty members are encouraged to participate in startups, either as founders or as mentors. The institute will provide guidelines to manage potential conflicts of interest and ensure that their primary academic responsibilities are not compromised.

8. Access to Institute Resources:

Startups will have access to the institute’s resources, including labs, libraries, and other facilities, subject to the policies governing their use.

9. Networking and Industry Connections:

The institute will facilitate networking opportunities with industry experts, potential investors, and alumni, enhancing the market exposure and growth potential of the startups.

10. Legal and Regulatory Guidance:

Startups will be provided with guidance on legal and regulatory aspects of running a business, including company registration, taxation, and compliance.

11. Performance Monitoring and Continuous Support:

The institute will monitor the progress of student and faculty startups and provide ongoing support, adapting to the changing needs of the startups as they grow.

12. Alumni Involvement:

Alumni entrepreneurs will be encouraged to mentor and support current student and faculty startups, fostering a strong community of entrepreneurial support.

• Providing Business Incubation Facilities
1. Facility Accessibility and Infrastructure:

Ensure that the business incubation facilities, including 'Startup Shala', are fully equipped with necessary infrastructure such as office spaces, meeting rooms, high-speed internet, and essential technology resources. These facilities should be accessible to all incubated startups on a 24/7 basis.

2. Application and Selection Process:

Implement a transparent and merit-based application process for startups seeking incubation. This process will involve a thorough evaluation of the business idea, team capabilities, market potential, and scalability.

3. Resource Allocation:

Allocate resources effectively among the incubated startups based on their specific needs and development stage. This includes physical resources, technology tools, and access to specialized equipment.

4. Mentorship and Advisory Services:

Provide a structured mentorship program connecting startups with experienced mentors from relevant industries. This program will offer guidance on various aspects of business development, including strategy, marketing, finance, and operations.

5. Training and Skill Development Workshops:

Conduct regular workshops and training sessions to enhance the skills of entrepreneurs in areas such as business planning, pitch preparation, financial literacy, legal compliance, and digital marketing.

6. Networking Opportunities:

Organize networking events to connect startups with potential investors, industry leaders, and other stakeholders. These events will facilitate knowledge exchange, partnerships, and access to funding opportunities.

7. Collaborative and Shared Spaces:

Encourage a culture of collaboration among startups through shared workspaces and common areas. This approach fosters community building and peer-to-peer learning.

8. Technology and Research Support:

Provide access to the institute’s research and development facilities, including labs and libraries, to support product development and innovation.

9. Marketing and Branding Support:

Assist startups in developing their branding and marketing strategies, including digital presence, to enhance their visibility and market reach.

10. Performance Tracking and Feedback:

Implement a system to track the progress of startups and gather feedback regularly. This information will be used to continuously improve the services and support provided by the incubation center.

11. Alumni Engagement:

Involve successful alumni entrepreneurs in the incubation program to provide mentorship, networking opportunities, and possibly funding avenues.

12. Sustainability and Social Impact Initiatives:

Encourage and support startups in developing sustainable business models and focusing on social impact, aligning with the institute’s commitment to societal contribution.

• Licensing of Intellectual Property Rights (IPR)
1. IPR Policy and Guidelines:

Establish a clear IPR policy that outlines the procedures and guidelines for the ownership, protection, and licensing of intellectual property developed by students, faculty, or through institutional projects.

2. IP Identification and Protection:

Implement a process for identifying potentially patentable inventions and other intellectual property. Provide support for securing patents, copyrights, and trademarks as appropriate.

3. Licensing Framework:

Develop a standardized framework for licensing IPR to third parties, including startups, corporations, and other institutions. This framework will detail the terms and conditions of licensing, including duration, scope, and financial arrangements.

4. Equity and Revenue Sharing Models:

Outline clear equity and revenue sharing models in cases where the institution's intellectual property is commercialized. This includes defining the distribution of royalties and benefits between the institution, inventors, and other stakeholders.

5. Support for Licensing Processes:

Offer dedicated support to facilitate the licensing process, assisting in negotiations, contract drafting, and compliance with legal requirements.

6. Industry and Commercial Partnerships:

Actively seek partnerships with industry and commercial entities interested in licensing intellectual property developed at the institute. This involves marketing the IP portfolio to potential licensees.

7. Fair and Ethical Practices:

Ensure that all licensing agreements are conducted in a fair and ethical manner, protecting the interests of the inventors and the institution, and aligning with the broader mission and values of the institute.

8. Licensing for Startups:

Provide special considerations and support for student and faculty startups wishing to license IPR developed within the institution. This includes facilitating easy terms of licensing to encourage startup growth and innovation.

9. Dispute Resolution Mechanism:

Establish a mechanism for resolving disputes related to IPR licensing, ensuring timely and fair handling of any issues that arise.

10. Education and Awareness:

Conduct regular workshops and seminars to educate the institute’s community about IPR, its importance, and the processes involved in protection and licensing.

11. Monitoring and Evaluation:

Regularly monitor and evaluate the effectiveness of the IPR licensing processes. Use feedback and performance data to continually improve the IPR management and licensing procedures.

12. Collaboration with Legal Experts:

Collaborate with legal experts and IPR professionals to stay updated on best practices and legal developments in intellectual property management and licensing.

• Induction Programs
1. Orientation to Innovation and Entrepreneurship Ecosystem:

Design induction programs for new students and faculty that include comprehensive orientation about the institute’s innovation and entrepreneurship ecosystem. This will cover aspects such as available resources, facilities like 'Startup Shala', and ongoing projects.

2. Introduction to Policies and Opportunities:

Provide detailed information on the institute's policies related to innovation, startups, intellectual property rights, and available entrepreneurial opportunities. This ensures that new members are immediately aware of the support and avenues available to them.

3. Interaction with Successful Entrepreneurs and Alumni:

Organize sessions where successful entrepreneurs, particularly alumni who have launched successful ventures, share their experiences and insights. This serves as inspiration and provides practical perspectives on entrepreneurship.

4. Workshops and Skill Development Sessions:

Include initial workshops and interactive sessions focused on essential skills for innovation and entrepreneurship, such as idea generation, business model canvas, and pitch training.

5. Networking Events:

Facilitate networking events as part of the induction program, allowing new members to connect with current students, faculty, entrepreneurs, and mentors within the institute’s entrepreneurial community.

6. Tour of Facilities:

Conduct a guided tour of the incubation centers, labs, and other facilities dedicated to innovation and entrepreneurship. This helps new members understand the physical resources at their disposal.

7. Integration into the Innovation Culture:

Encourage new students and faculty to participate in ongoing projects or to attend ongoing events related to innovation and entrepreneurship. This immediate immersion helps in aligning them with the institute’s culture from the outset.

8. Information on Support Services:

Provide detailed information about the support services available, including mentorship, funding opportunities, legal and business advice, and how to access these resources.

9. Interactive Q&A Sessions:

Organize interactive Q&A sessions where new members can ask questions and get clarifications from seasoned entrepreneurs, faculty, and innovation cell members.

10. Feedback and Continuous Improvement:

Gather feedback from participants of the induction programs to continuously improve the structure and content of these sessions, ensuring they remain relevant and effective.

11. Follow-up Programs:

Implement follow-up programs and sessions throughout the academic year to reinforce the concepts introduced during the induction and to provide ongoing support and guidance.

• Support for Institute’s Innovation Cell
1. Establishment and Recognition:

Facilitate the establishment of Institute’s Innovation Cells (IICs) in various departments. These cells will be officially recognized by the institute and given a platform to operate and collaborate with other innovation-focused entities within the institute.

2. Resource Allocation:

Allocate necessary resources to IICs, including dedicated workspace, access to labs and equipment, and a budget for conducting activities. This ensures that the cells have the fundamental tools and environment needed to foster innovation.

3. Mentorship and Guidance:

Provide continuous mentorship to IICs from faculty members, industry experts, and alumni. Assign mentors who have experience in entrepreneurship and innovation to guide the students in their projects and initiatives.

4. Training and Workshops:

Organize specialized training sessions and workshops for members of IICs. These sessions will focus on innovation management, idea generation, prototyping, business planning, and pitching.

5. Networking Opportunities:

Facilitate networking opportunities for IIC members with external stakeholders, including industry professionals, entrepreneurs, and investors. This could be through events, industry visits, or guest lectures.

6. Funding for Projects:

Set up a micro-fund to support promising projects initiated within IICs. Provide guidance on how to apply for these funds and assistance in project budgeting and management.

7. Participation in Competitions and Events:

Encourage and support participation of IICs in national and international innovation competitions and events. Provide financial and logistical support for attending such events.

8. Collaboration with Research and Development:

Promote collaboration between IICs and the institute’s research and development activities. Facilitate access to advanced research facilities and opportunities to work on real-time projects.

9. Idea Validation and Prototyping Support:

Offer assistance in idea validation, market research, and prototyping. This includes providing access to prototyping labs, design software, and technical expertise.

10. Showcasing and Promotion:

Provide platforms for IICs to showcase their projects and innovations, such as institute websites, social media channels, and events like open house days or innovation fairs.

11. Feedback and Continuous Improvement:

Establish a feedback mechanism for IICs to share their experiences and suggestions. Use this feedback to continuously improve the support structure and resources provided to the cells.

12. Alumni Engagement:

Involve institute alumni in the activities of IICs, either as mentors, guest speakers, or potential collaborators/investors for student-led projects.

• Faculty Support
1. Faculty Development Programs:

Implement regular faculty development programs that focus on innovation, entrepreneurship, and emerging technologies. These programs aim to enhance the faculty's understanding and skills in these areas, enabling them to effectively guide and mentor students.

2. Research and Innovation Grants:

Provide accessible research and innovation grants specifically for faculty members. These grants will support faculty-led research projects, particularly those with potential commercial applications or societal impact.

3. Sabbatical and Leave Policies:

Offer flexible sabbatical and leave policies for faculty members who wish to pursue entrepreneurial ventures or deep-dive into research projects. This includes options for part-time sabbaticals or leaves of absence dedicated to innovation activities.

4. Mentorship and Collaboration Opportunities:

Create opportunities for faculty to mentor student startups and innovation projects. Facilitate collaborations between faculty and industry professionals to bridge academic research with practical applications.

5. Innovation in Teaching Grants:

Introduce grants for faculty members who innovate in their teaching methodologies, integrating entrepreneurial and innovative thinking into their curriculum.

6. Recognition and Awards:

Establish a system of recognition and awards for faculty members who make significant contributions to the institute’s innovation and entrepreneurship ecosystem.

7. Support for Intellectual Property (IP) Creation:

Provide comprehensive support for faculty in the creation and management of intellectual property. This includes assistance in patent filing, IP licensing, and navigating commercialization pathways.

8. Professional Networking Platforms:

Facilitate faculty membership in professional networks and associations related to innovation and entrepreneurship. Sponsor faculty attendance at relevant conferences, workshops, and symposia.

9. Interdisciplinary Research Collaborations:

Encourage and support interdisciplinary research collaborations within the institute, fostering a culture of innovation across different departments and faculties.

10. Feedback and Engagement Mechanism:

Implement a feedback mechanism to gather faculty input on the institute’s innovation and entrepreneurship policies and activities. Actively engage faculty in the decision-making process related to these areas.

11. Resource Accessibility:

Ensure that faculty have easy access to necessary resources, including research labs, funding databases, and technology transfer offices, to support their innovation and entrepreneurship endeavors.

12. Alumni and Industry Engagement:

Involve faculty in alumni and industry engagement initiatives, leveraging their expertise for collaborative projects and knowledge exchange.

• Government Funded Incubation Center
1. Identification of Funding Opportunities:

Regularly identify and assess government funding opportunities for establishing incubation centers, such as schemes offered by the Ministry of Micro, Small & Medium Enterprises (MSME), Department of Science and Technology (DST), and other relevant government bodies.

2. Proposal Development:

Form a task force comprising faculty, administrative staff, and industry experts to develop comprehensive proposals for government-funded incubation centers. Proposals should detail the objectives, scope, resource requirements, potential impact, and alignment with government priorities.

3. Stakeholder Collaboration:

Collaborate with internal and external stakeholders, including industry partners, to strengthen the proposal. This may involve commitments for additional resources, mentorship, or industry linkages.

4. Application Submission:

Ensure timely and accurate submission of applications to relevant government bodies. This includes completing all necessary documentation, project plans, and financial projections.

5. Infrastructure Planning:

Design a blueprint for the incubation center, considering the physical space, technological infrastructure, and administrative setup required. Plan for scalable and sustainable infrastructure that aligns with the proposed activities and goals.

6. Compliance and Legal Requirements:

Adhere to all compliance and legal requirements set forth by the government. This includes regulations related to financial management, reporting, and operational guidelines.

7. Establishment of Governance Structure:

Set up a governance structure for the incubation center, including an advisory board comprising representatives from the institute, government, industry, and entrepreneurial community.

8. Program Design and Development:

Develop incubation programs tailored to the needs of startups and entrepreneurs. This includes mentorship, training, networking opportunities, and access to funding and resources.

9. Collaboration with Government Agencies:

Foster strong relationships with relevant government agencies to ensure continuous support and alignment with national innovation and entrepreneurship goals.

10. Monitoring and Reporting:

Implement a robust monitoring system to track the progress and impact of the incubation center. Regularly report achievements and challenges to government bodies as per the funding agreement.

11. Outreach and Promotion:

Actively promote the incubation center to attract high-quality startups and entrepreneurs. Utilize various channels, including the institute’s networks, industry events, and social media.

12. Sustainability and Impact Assessment:

Plan for the long-term sustainability of the incubation center beyond the government funding period. Regularly assess the impact of the center on the startup ecosystem and the institute.

• Course Design
1. Curriculum Development Committee:

Establish a Curriculum Development Committee comprised of faculty from various departments, industry experts, and entrepreneurship educators. This committee is responsible for designing and regularly updating courses related to innovation and entrepreneurship.

2. Market and Industry Analysis:

Conduct thorough market and industry analysis to identify the key skills, knowledge areas, and trends in innovation and entrepreneurship. This ensures that the courses are relevant and aligned with current industry needs.

3. Interdisciplinary Approach:

Design courses with an interdisciplinary approach, combining elements from business, technology, design, and social sciences. This encourages a holistic understanding of innovation and entrepreneurship.

4. Integration with Existing Curriculum:

Integrate innovation and entrepreneurship courses into the existing curriculum. Offer these courses as electives or core components of various academic programs.

5. Practical and Experiential Learning:

Emphasize practical and experiential learning in course design. Include components such as case studies, project-based learning, startup simulations, and internships with startups or innovation centers.

6. Collaboration with Industry and Entrepreneurs:

Involve industry professionals and successful entrepreneurs in course design and delivery. This could be through guest lectures, mentorship programs, or collaborative projects.

7. Feedback from Stakeholders:

Regularly gather feedback from students, faculty, and industry stakeholders to continually refine and improve the courses.

8. Faculty Training and Development:

Provide specialized training and development programs for faculty teaching these courses to ensure they are equipped with the latest knowledge and teaching methodologies.

9. Use of Technology and Digital Tools:

Incorporate the use of technology and digital tools in course delivery, including online learning platforms, simulation software, and collaborative tools.

10. Assessment and Evaluation:

Develop robust assessment and evaluation mechanisms to measure the effectiveness of the courses. This includes both formative and summative assessments.

11. Alignment with Institutional Goals:

Ensure that the course design aligns with the broader goals and objectives of the institute, particularly in fostering a culture of innovation and entrepreneurship.

12. Continual Review and Update:

Establish a process for the continual review and update of courses to keep them current and relevant. This includes staying abreast of emerging trends and changes in the entrepreneurship ecosystem.

• Networking and Collaboration Support
1. Networking Events and Meetups:

Regularly organize networking events, meetups, and mixers where students, faculty, and startup founders can interact with industry professionals, alumni, and potential investors. These events can facilitate knowledge sharing, mentorship, and partnership opportunities.

2. Industry Partnership Program:

Develop a robust industry partnership program to establish strong ties with local businesses, corporate entities, and other organizations. These partnerships can offer practical insights, collaboration on projects, internships, and support for entrepreneurial ventures.

3. Alumni Engagement:

Actively engage the institute's alumni network, particularly those in entrepreneurial roles, to participate in mentoring, guest lectures, and networking events. Encourage alumni to provide guidance and opportunities for current students and faculty.

4. Collaborative Research Initiatives:

Foster collaborative research initiatives that involve students, faculty, and industry partners. Encourage interdisciplinary research projects and joint publications to enhance the institute’s research profile and practical impact.

5. Entrepreneurship Clubs and Societies:

Support the formation and activities of student-led entrepreneurship clubs and societies. These clubs can serve as platforms for peer networking, idea exchanges, and organizing entrepreneurship-focused events.

6. Online Community Platforms:

Create and maintain online community platforms, such as forums or social media groups, to facilitate continuous interaction among the entrepreneurial community within and outside the institute.

7. Mentorship Programs:

Establish structured mentorship programs where experienced professionals guide and support students and budding entrepreneurs in their entrepreneurial journey. This can include one-on-one mentorship or group mentorship sessions.

8. Collaboration with Other Academic Institutions:

Collaborate with other academic institutions, both nationally and internationally, to share resources, knowledge, and opportunities. Encourage student and faculty exchanges as part of these collaborations.

9. Entrepreneurship Workshops and Bootcamps:

Conduct workshops, bootcamps, and training sessions in collaboration with industry experts and experienced entrepreneurs. These events should focus on skill development, business planning, pitching, and other entrepreneurial competencies.

10. Showcasing and Promotion:

Actively showcase and promote successful collaborations, student startups, and innovative projects through various channels, including the institute's website, newsletters, and external media.

11. Access to Professional Networks:

Provide access to professional business networks, associations, and entrepreneurship forums. This can help members of the institute’s community to build connections and gain industry insights.

12. Facilitating Access to Funding and Resources:

Assist startups and innovators in connecting with potential funding sources, including angel investors, venture capitalists, and grant programs. Provide guidance on pitching and funding proposals.

• Equity Sharing and Fee Structure for Graduated Startups
1. Equity Sharing Agreement:

Startups incubated at the institute will enter an equity-sharing agreement, where the institute may take a nominal equity stake in the startup. The specific percentage of equity will be agreed upon prior to the commencement of incubation.

2. Deferred Fee Structure:

The institute will implement a deferred fee structure for startups, applicable for up to 2 years after graduation from the incubation program. Fees will cover services such as mentorship, business consultation, legal and IP advice, access to specialized equipment or technology, and the use of space.

3. Buy-Back and Exit Terms:

If a startup wishes to buy back the equity or exit the fee structure, it will be required to pay a value of at least three times the current equity or an amount based on revenue, in a negotiable manner.

4. Agreement Prior to Incubation:

Startups will be required to sign an agreement outlining the terms and conditions of equity sharing and fee structure before starting the incubation process.

5. Negotiable Terms Based on Financial Growth:

The terms of equity and fees may be negotiable based on the financial growth and performance of the startup, ensuring flexibility and support for the startup’s development.

6. Financial Monitoring and Auditing:

The institute will conduct regular financial reviews and audits of the startups to ensure compliance and transparency. This includes monitoring the startup's financial health and usage of funds.

7. Compliance and Legal Assistance:

The institute will provide assistance to startups for compliance filing and legal matters, which may be subject to additional fees.

8. Market Conditions and Revenue Growth Consideration:

The equity and fee agreements will be adaptable to market conditions and the revenue growth of the startup, allowing for adjustments to support the startup’s success and viability.

9. Transparent and Fair Practices:

It will be ensured that all practices related to equity sharing and fee structure are transparent, fair, and mutually agreed upon, supporting the long-term success of both the startups and the institute’s incubation program.

As part of our initiative to promote innovation and entrepreneurship in accordance with the National Innovation and Startup Policy (NISP), we have established a dedicated committee responsible for implementing the guidelines and managing related activities. Additionally, we have incorporated the expertise of industry and academic professionals to strengthen our approach.

• Committee Composition:

Role	Name	Position/Department
President	Prof. (Dr.) Samik Chakraborty	Principal
Convener & NISP Coordinator	Dr. Suman Jana	Department of Electrical and Electronics Engineering (EEE)
IIC Cell Activity Coordinator	Dr. Arindita Saha	Department of Electrical Engineering (EE)
Innovation Activity Coordinator	Dr. Pritish Banerjee	Department of Mechanical Engineering (ME)
Internship Activity Coordinator	Dr. Rahul Kanti Nath	Department of Mechanical Engineering (ME)
IPR Activity Coordinator	Dr. Rajdeep Chakravarty	Department of Basic Sciences and Humanities (BSH)
Incubation Center Coordinator, Startup Activity Coordinator, and NIRF Coordinator	Mr. Avik Ghosh Dastidar	Department of Basic Sciences and Humanities (BSH)
Social Media Coordinator	Mr. Suprovat Basu	Department of Master of Business Administration (MBA)
Industry Expert	Mr. Pinaki Roychowdhury	Industry association
Industry Expert	Mr. Subir Roy	Ecosystem Enablers
Academic Expert	Dr. Mahuya Dutta	Incubation Centre
Academic Expert	Dr. Rupa Bhattacharya	Startup Formation

• Roles and Responsibilities:

• The committee members and external experts will collaboratively oversee the implementation of the Equity Sharing and Fee Structure for Graduated Startups.

• The committee will ensure startups are aware of and agree to the terms of equity sharing and fee structure before incubation.

• Coordinate the monitoring, financial reviews, and auditing processes to ensure transparency and fairness.

• Provide assistance and advice in legal and compliance matters to startups.

• The external experts will bring in industry and academic perspectives, assisting in negotiations, and providing insights on market trends and academic integration.

• REREGI INNOVATION and STARTUP Policy 2024 for Students and Faculty
• National INNOVATION and STARTUP Policy 2019 for Students and Faculty
• INNOVATION and ENTREPRENEURSHIP Policy 2024